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Artificial Intelligence (AI) In Predictive Toxicology Global Market Analysis, Trends, Growth, Research And Forecast 2033
Artificial Intelligence (AI) In Predictive Toxicology Global Market Analysis
According to The Business Research Company's, The artificial intelligence (AI) in predictive toxicology market size has grown exponentially in recent years. It will grow from $0.38 billion in 2023 to $0.50 billion in 2024 at a compound annual growth rate (CAGR) of 30.3%. The growth in the historic period can be attributed to increasing regulatory pressure for toxicity assessment, growing concerns about chemical safety, availability of large datasets for model training, rising costs and ethical concerns associated with animal testing, demand for faster and more cost-effective toxicity screening methods.The artificial intelligence (AI) in predictive toxicology market size is expected to see exponential growth in the next few years. It will grow to $1.41 billion in 2028 at a compound annual growth rate (CAGR) of 29.9%.
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Market Drivers and Trends:
The increasing demand for efficient and ethical drug discovery processes is expected to propel the growth of artificial intelligence (AI) in predictive toxicology market going forward. Drug discovery is an intricate and dynamic process that involves the systematic exploration, synthesis, and evaluation of chemical compounds to discover potential therapeutic agents to alleviate diseases and enhance overall well-being, while efficient and ethical drug discovery processes involve leveraging advanced technologies and prioritizing responsible research practices to develop new therapeutic agents. The demand for efficient and ethical drug discovery processes is driven by rising chronic diseases, growing trend towards personalized medicine, and an increased prevalence of age-related diseases. Artificial intelligence (AI) in predictive toxicology enhances drug discovery processes by efficiently analyzing vast datasets to predict potential toxicological outcomes, thereby accelerating drug development while ensuring ethical standards are met.
Major companies operating in the artificial intelligence (AI) predictive toxicology market are adopting a strategic collaboration approaches to enhance market presence and innovation. These collaborations aim to leverage AI and machine learning techniques to improve the prediction and assessment of the toxicity of chemical compounds and pharmaceuticals.
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Major Key Players of the Market:
Laboratory Corporation of America Holdings (LabCorp); Eurofins Scientific SE; Wuxi AppTec; Charles River Laboratories International; Medidata Solutions Inc.; Certara Inc.; Schrödinger; Merative L.P.; Molecular Devices LLC; Envigo (Inotiv Inc.); Instem plc; Simulations Plus; Cyprotex; Recursion Pharmaceuticals; Exscientia PLC; BIOVIA Corporation; Lhasa Limited; Chemaxon Ltd.; Insilico Medicine Inc.; Algorithme Pharma; CiToxLAB; ArisGlobal; Benevolent AI; Berg Health; Cyclica Therapeutics Inc.; Celsius Therapeutics; Biovista Inc.; BioTeam Inc.
Artificial Intelligence AI In Predictive Toxicology Market 2024 Key Insights:
• The artificial intelligence (AI) in predictive toxicology market size is expected to see exponential growth in the next few years. It will grow to $1.41 billion in 2028 at a compound annual growth rate (CAGR) of 29.9%.
• Increasing Demand For Efficient And Ethical Drug Discovery Processes Driving AI In Predictive Toxicology Market Growth
• Key Players Driving Innovation Through Strategic Collaborations In The Pharmaceutical Industry
• North America was the largest region in the artificial intelligence (AI) in predictive toxicology market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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